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Aerial view of signage on the exterior of Lucid’s headquarters in Newark, California, March 29, 2023. Electric car maker Lucid has announced plans to lay off 1,300 people, or 18% of its workforce, as part of a restructuring plan. Justin Sullivan | Getty Images lucid group announced Wednesday that it has raised about $3 billion through a new equity offering, mostly from a Saudi fund that manages luxury electric car makers. The company’s shares fell more than 6% after hours. Rashid said about $1.8 billion of the total will come from privately placed shares in Saudi Arabia’s Public Investment Fund (PIF). The rest will be raised through a public offering of new shares that started Wednesday. the company said . PIF owns approximately 60.5% of Lucid shares. The new funding round is structured to keep the stake at the same level. Lucid said it would use the new cash for “general corporate purposes,” including capital expenditures and working capital. Lucid had Approximately $3

By building a nationwide Supercharger network of fast chargers, Tesla has gotten a head start over traditional automakers. Tesla’s Supercharger was only available to Tesla owners, but Elon Musk announced earlier this year plans to open up the Supercharger to non-Tesla owners by the end of 2024. Musk’s plans seem no joke, as Ford CEO Jim Farley just announced that more than 12,000 Tesla Superchargers will run in Ford EVs from early 2024. . with ford Tesla Thousands of Tesla V3 Superchargers in the US and Canada have announced that they will be available to Ford EV owners through Ford’s BlueOval charging network. Tesla’s Supercharger utilizes the North American Charging Standard (NACS) connector, so Tesla will develop a hardware adapter that will allow current Ford EVs with Combined Charging System (CCS) ports to be charged by the Supercharger. It’s a schedule. Currently Ford F-150 Lightning, E-Transit , and Mustang Mach-E use the CCS port. Ford owners will be able to pay for charging

Chevrolet is looking to grow even further with the 2024 Colorado ZR2 Bison. On Wednesday, the 2024 Chevrolet Colorado ZR2 Bison debuted with larger tires, better breakover and departure angles, and more ground clearance. It also has extra underbody protection in case someone hits a rock while dodging another. Chevrolet did not comment on pricing or production numbers, but Chevrolet Performance executives said production of the ZR2 Bison will double to meet customer demand.last generation Colorado ZR2 Bison sold out Automakers soon tried to promote production We tried to keep up with demand, but ran into supply chain issues. Chevrolet said these issues have been resolved. 2024 Chevrolet Colorado ZR2 Bison Colorado ZR2 Bison wins 35 seconds up to date Colorado ZR2 It runs 33-inch Goodyear Territory Mud Terrain tires, and GM’s engineers said the 35 wouldn’t fit without rubbing. For Bison, the same engineers cut the fenders and wheel liners and added fender flares to fit 35

i used to runner . At least that’s how I saw myself. Back then as a runner, and more recently as a former runner. Most of the 20-somethings put on their running shoes at least three times a week and kept running 3-8 miles. It wasn’t just the need to stay fit that drove me. It was blissful speed, a charge of power, a breeze in my face and a warm pain in my leg. I loved running enough to do stupid things like, for example: Run a marathon without training, driven only by enthusiasm and overconfidence. But life goes on, times change, and old habits are replaced by new ones. After moving from Brooklyn to a part of Manhattan that apparently lacks big parks (especially since then) East River Park, long used and loved by runners, is being run down for renovations — thank you de Blasio ), I found myself hitting the gym’s cardio machines regularly all year round instead of hitting the sidewalk in the warmer months. But after years of going to the gym and constantly switching channels on my e

A new Jeep Grand Cherokee model is being recalled for possible loss of steering control, NHTSA said Monday. The recall covers 89,372 2021-2023 Jeep Grand Cherokee and Grand Cherokee L models. An error on the assembly line caused the steering column shaft to be improperly installed, exposing the Jeep’s cover. If the intermediate shaft is not installed correctly, it can cause the SUV to rotate out of the U-joint, which essentially transmits steering wheel motion to the steering rack. Disconnection can cause loss of steering control and increase the risk of collision. Jeep says drivers may experience more play in the steering wheel and noise when turning. These can be signals of disconnection of the intermediate shaft. Jeep and parent company Stellatis said there have been 15 warranty claims to date, but no known field reports of the issue. The recall includes 35,407 vehicles for 2021-2023. Jeep Grand Cherokee L 3 Row SUV as well as 53,965 in 2022, 2023 Jeep Grand Cherokee . Jeep w

Cadillac You mentioned that the V brand will celebrate its 20th anniversary in 2024, but I had no idea what that meant. 2004 CTS-V started the brand’s ultra-high-power sedan journey thanks to a 5.7-liter V8 engine with 400 horsepower and 395 lb-ft of torque.of CT4-V black wing and CT5-V Blackwing is the last company to continue the journey of an ultra-powerful sedan with a manual transmission in the United States.These he already knew he could get two trims Decklid has Blackwing badge To clarify the difference from the regular V. Cadillac has finally told us what else is coming, starting with four new additional costs. colour For V and V Blackwing: Black Diamond Tricoat, Coastal Blue Metallic, Cyber ​​Yellow Metallic, Velocity Red. Black Diamond and Velocity Red are said to be inherently limited, but I’m not sure how much. All new colors come at an additional cost, and five colors that will be discontinued in 2024 (Blaze Orange Metallic, Electric Blue, maverick Noir Frost, Lif

Shanghai (Gasgoo)- NETA Auto, a Chinese New Energy Vehicle (NEV) manufacturer under HOZON Auto, recently opened its global headquarters in Shanghai’s Putuo District. NETA Auto’s global headquarters serve as a central hub for strategic planning, resource allocation, decision-making, coordination, and guidance of the company’s global operations, as well as four major operations: the flagship experience center and intelligent R&D center. It also has functions. , data center, service center. Photo credit: NETA Auto The partnership between NETA Auto and Putuo has deep roots. In September 2021, the two companies signed a strategic cooperation agreement aimed at accelerating the development of new energy vehicles, promoting the upgrading and transformation of the regional industrial structure, and aiming for joint development, complementary advantages and mutual benefits. bottom. In 2022, Nezha Auto achieved the remarkable feat of securing the top position among China’s NEV startup

Five years after exiting the Japanese market, cryptocurrency exchange Binance has begun the process of establishing a fully regulated subsidiary in Japan. The move follows its acquisition of regulated cryptocurrency exchange Sakura Exchange Bitcoin (SEBC) in November 2022. As part of the deal, SEBC will be discontinuing its current service by May 31 and relaunching as Binance Japan in the coming weeks. Users of the domestic exchange’s global platform will have to register with the new entity. The transition will be available after August 1, 2023 and will include a new identity verification process to comply with local requirements, Coin Telegraph reported. Funds remaining on the SEBC exchange will be automatically converted into Japanese Yen and transferred to users’ bank accounts from June, Binance previously revealed. In a tightening regulatory environment, the exchange’s strategy to expand its global footprint has been to acquire local regulated entities. Binance has made simil

While Rivian’s respect for the environment is admirable, we believe this may be an inappropriate move. With so many electric pickups being sold and launched, Rivian’s premium EV needs all the help to stand out. Additionally, some of these rivals are introducing or working on. very similar system I doubt anyone would remove that tech from a Rivian tank turn to make it look more socially responsible. As a result, some potential Rivian customers may decide that other automakers offer a more complete package. Time will tell how customers react to this news, but Rivian has removed features quite often after discontinuing the electric tonneau cover, the temporary tonneau cover. Camp kitchen and gear tunnel stop and the end of its beta membership package. At least Rivian appears to be progressing with production of some previously announced vehicle configurations and further development of new offerings. https://ift.tt/9CYfJBI First Dual Motor Rivian R1T Lines Off, Rivian Teases R2 S

Want a Fiat 500? Now you can buy new 2024 Fiat 500e After November. But if you want the original, an Italian company has restored classic models from 1957 to 1975. Vehicle construction can start for less than $10,000, including the vehicle, and Real Italian Cars is happy to ship the complete vehicle anywhere in the United States. City car fans, set your calendars to November 2023. That’s when Fiat North America will unveil the American version of his 2024 500e. But as exciting as it is for stylish EV buyers and for Fiat’s current lineup in the US, the return of the Cinquecento isn’t the only one. A new Italian company builds a classic 500 restmod. Singer’s 911 again Cyan Racing Volvo P1800 You don’t need a second mortgage if you buy it. It’s hard to find a more specific and apt name in the automotive industry than Real Italian Cars. First, the new shop is headquartered in Lucca, Tuscany, Italy. Secondly, the focus of this business is to restore the original Fiat Nuova 500, an

A Michigan dairy farmer and a Canadian distiller plan to turn milk into a $41.1 million investment in biofuels. The Michigan Milk Producers Association, a farm-owned cooperative of more than 1,000 dairy farmers with two processing plants in the state, has formed a joint venture with Ontario’s Dairy Distillery to produce a milk called Vodkow. Manufactures base vodka. The venture will expand its 30,000-square-foot facility in southwestern Michigan to process a by-product called milk permeate into 2.2 million gallons of ethanol annually for use in cars and trucks starting in 2025. The plan is to Crain’s Detroit Business report . Mixing this amount of ethanol with gasoline could offset 14,500 tons of carbon per year. Dairy farmers in Michigan are using technology developed by Dairy Distillery, which began converting milk permeate into vodka in 2018 and into hand sanitizer during the COVID-19 pandemic, to keep cows safe. We want to further increase the value of milk processed from “Pe

Ree’s first product will be the P7-B box truck targeting the core of the mid-duty electric market. KC Heidler, CEO of Tom’s Truck Center, a two-store chain based in Santa Ana, Calif., said the selling point is a new wheel-based drive system called Lee Corner. Each corner has an electric motor, as well as steering, braking and suspension components packaged in modules placed between the chassis and the wheels. According to Ree co-founder and CEO Daniel Burrell, the system will be controlled by wire, similar to how commercial airliners operate, but scaled for everyday drivers rather than skilled pilots. has been expanded and improved. This module allows for a flat skateboard platform, lower step-in height, and more space for luggage and passengers when used as a shuttle. The vehicle is significantly more agile than other commercial vehicles, which is especially useful in dense urban environments. The turning radius is 39 feet. The truck matches the drive cycle of a box truck and off

Mumbai, May 27: With the aim of providing an electric vehicle (EV) charging solution, Tata Power has teamed up with the Ranchi Airport Authority (RAA) to install two public 30 kw chargers at Virsam Munda Airport. According to a statement from Tata Power, the partnership will support Tata Power’s efforts to accelerate EV adoption in India and the government’s efforts to support the electrification of private and public vehicles by providing the necessary infrastructure. It is said to be in line with the Electric Mobility Mission Plan (NEMMP). US EV Charging Stations: Mercedes-Benz, MN8, ChargePoint Partners, $1 Billion Project to Install 400 Electric Vehicle Fast Charging Hubs. Level 1 chargers are one of three speed level charging devices for electric vehicles (EVs), the other two being fast EV chargers and fast EV chargers. EV Charging Revenue to Exceed $300 Billion Globally by 2027: Report. According to the company, Level 1 chargers use standard household outlets such as AC to p

Vehicle type: Compact SUV Price range: $32,355 – $39,845 Power train: The all-new Honda CR-V combines a base turbocharged 1.5-liter four-cylinder with a continuously variable transmission to produce 190 horsepower. The all-gas EX and EX-L versions of the CR-V are available with either all-wheel drive or front-wheel drive. The Sport and Sport Touring trim levels are equipped with a hybrid 2.0-liter 4-cylinder engine that develops a total of 204 horsepower with the help of two electric motors. The Sport is available with AWD or FWD, while the Sport Touring comes standard with AWD. What’s new for 2023? All! The 2023 Honda CR-V kicks off the sixth generation of this hugely popular compact SUV. The entire vehicle has been redesigned, making both passenger and luggage space in the cabin larger and more comfortable. The standard 4-cylinder engine has also been redesigned for better performance, as has Honda’s continuously variable transmission. The result is a larger, more versat

Lenders can improve their electric vehicle underwriting programs by considering the vehicle itself in addition to traditional credit risk metrics. Spring-free EV First, because we’re building our own, we’ve identified best practices for assessing risk beyond your credit score. Underwriting engine dedicated to EV . The fintech rents EVs from fleet management companies and charges monthly and per-mile fees, but when underwriting leases, it takes into consideration location, vehicle type, market characteristics and customer creditworthiness. In addition, consider the data that EV can provide. fleet management customers . “Charging infrastructure, geography, seasonality, batteries. These are all things to pay attention to, especially from a financing perspective.” Teni Teula Co-Founder and Chief Product Officer of Spring Free EV said: auto finance news . “Geography and seasonality are important. Weather patterns determine whether EVs can be rented.” © Can Stock Photography / Pitinan

It was Max Verstappen, who led FP2 after FP1 chart-topping Carlos Sainz crashed out in Session 2, to brag about Friday’s practice ahead of F1’s Monaco Grand Prix. Despite none of the sectors being quality enough to make the timeboard purple, Verstappen, who clocked 1m12.462s, stitched together three consistent splits to show the Red Bull RB19’s ability throughout the lap. made it possible to maximize the This put him ahead of Ferrari’s Sainz and Charles Leclerc, but the former ended the session after colliding with the inside wall on the exit of the pool section. Sainz set the pace by three tenths over compatriot Fernando Alonso in the opening session and was once again among the top runners before 2021 at the Principality with a near-carbon copy of team-mate Leclerc’s qualifying crash. Created. Red flag-mandated race simulations in the second half of the session were delayed, but quick cleanup work eventually allowed for 12 minutes of uninterrupted running. Still, this affected th